J.W. Cole Advisors Inc. Makes New $176,000 Investment in Comstock Resources, Inc. (NYSE:CRK)

J.W. Cole Advisors Inc. bought a new position in shares of Comstock Resources, Inc. (NYSE:CRK) during the fourth quarter, Holdings Channel.com reports. The firm bought 19,855 shares of the oil and gas producer’s stock, valued at approximately $176,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $407,000. Sapient Capital LLC purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $201,000. Capital Square LLC grew its stake in shares of Comstock Resources by 191.8% in the 4th quarter. Capital Square LLC now owns 58,660 shares of the oil and gas producer’s stock worth $519,000 after buying an additional 38,558 shares during the last quarter. Americana Partners LLC purchased a new stake in shares of Comstock Resources in the 4th quarter worth approximately $184,000. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of Comstock Resources by 4.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 611,768 shares of the oil and gas producer’s stock worth $5,415,000 after buying an additional 24,970 shares during the last quarter. Hedge funds and other institutional investors own 36.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Pickering Energy Partners upgraded Comstock Resources from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Mizuho cut their price target on Comstock Resources from $10.00 to $9.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Piper Sandler lowered their price objective on Comstock Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Stifel Nicolaus lowered their price objective on Comstock Resources from $14.00 to $13.50 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Truist Financial lowered their price objective on Comstock Resources from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $9.75.

Comstock Resources Stock Performance

CRK stock opened at $10.30 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 13.49 and a beta of 0.70. Comstock Resources, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.11. The stock’s 50 day simple moving average is $8.72 and its 200 day simple moving average is $9.46.

Comstock Resources (NYSE:CRK) last released its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.06). The firm had revenue of $410.58 million for the quarter, compared to the consensus estimate of $401.97 million. Comstock Resources had a net margin of 13.49% and a return on equity of 5.65%. Comstock Resources’s quarterly revenue was down 55.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, research analysts forecast that Comstock Resources, Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Star Exploration Corp Blue purchased 12,500,000 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average cost of $8.04 per share, with a total value of $100,500,000.00. Following the acquisition, the insider now directly owns 194,821,429 shares of the company’s stock, valued at $1,566,364,289.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company’s stock.

Comstock Resources Company Profile

Comstock Resources, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. Its assets are located in the Haynesville and Bossier shales located in North Louisiana and East Texas. The company was incorporated in 1919 and is headquartered in Frisco, Texas.